News Release Details

IndianOil reports highest ever profit of Rs 19,106 crores
New Delhi   25-May-2017

The audited financial results of Indian Oil Corporation (IndianOil) were approved at the meeting of the Board of Directors held today.

IndianOil posted a net profit of Rs. 19,106 crore for the financial year 2016-17 as compared to a profit of Rs.11,242 crore in the last fiscal. The income from operations for the financial year 2016-17 was Rs. 4,45,373 crore as compared to Rs. 4,06,828 crore in 2015-16.

IndianOil's income from operations was Rs.1,22,285 crore in Q4 FY 16-17 as compared to Rs. 98,719 crore in the corresponding quarter of 2015-16. Profit for the last quarter of 2016-17 is Rs. 3,721 crore as compared to Rs. 2,006 crore in the corresponding quarter of 2015-16.

The Board of Directors recommended a final dividend of 10% (Rs. 1 per share). This is in addition to Interim Dividend of 180% (Rs. 18.00 per share) paid during the year.

IndianOil Chairman, Mr. B Ashok, said, “IndianOil sold 83.490 million tonnes of products, including exports, during 2016-17. Our refining throughput for FY 2016-17 was 65.191 million tonnes and the throughput of the Corporation's countrywide pipelines network was 82.490 million tonnes during the same period. The gross refining margin (GRM) during the year 2016-17 was US$ 7.77 per bbl as compared to US$ 5.06 per bbl in 2015-16.”

For the last quarter of 2016-17, IndianOil's product sales volumes, including exports, was 21.100 million tonnes. The refining throughput was 17.087 million tonnes in Q4 FY 16-17 and the throughput of the Corporation's countrywide pipelines network was 19.843 million tonnes during the same period. The gross refining margin (GRM) for the last quarter of 2016-17 was US$ 8.95 per bbl as compared to US$ 2.99 per bbl in the corresponding quarter of 2015-16.

Kalikrishna M
Chief General Manager (Corporate Communications)
Indian Oil Corporation Limited
Corporate Office